Why Plug Power (PLUG) Dipped More Than Broader Market Today

Plug Power (PLUG) ended the recent trading session at $1.59, demonstrating a -10.17% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.38%. The stock of alternative energy company has risen by 18.79% in the past month, leading the Computer and Technology sector's gain of 4.85% and the S&P 500's gain of 3.64%.Analysts and investors alike will be keeping a close eye on the performance of Plug Power in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.15, indicating a 58.33% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $151.2 million, indicating a 5.47% growth compared to the corresponding quarter of the prior year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.59 per share and a revenue of $709.38 million, representing changes of +77.99% and +12.81%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for Plug Power. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. At present, Plug Power boasts a Zacks Rank of #3 (Hold). The Electronics - Miscellaneous Products industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 23% of all 250+ industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow PLUG in the coming trading sessions, be sure to utilize Zacks.com. Higher. Faster. Sooner. Buy These Stocks NowA small number of stocks are primed for a breakout, and you have a chance to get in before they take off.At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.Download the report free now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Plug Power, Inc. (PLUG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks